The conventional annular hole cutter generally had cutting edges of identical configuration on its end face in which chips being cut having a width corresponding to the width of the cutting edges were discharged via the gullets and through the spiral grooves, so that as the cutting process proceeded the chips tended to block the spiral grooves, often making it impossible to continue with the cutting operation. Whenever this occurred, the cutting operation was compelled to be interrupted to remove the chips, resulting in a significant loss of efficiency.